The best way to set yourself up for success in syndication is to have a ready source of potential investors so that when you have a deal, you have investors to call.
You do this by developing a marketing program that includes live networking to meet and create a list of potential investors, following up after the event to get to know them, and then periodically keeping in touch with them to let them know what you are doing. The follow-up can be in person, on the phone, or via an email drip system.
You can establish credibility by having a company, a business card, a compelling company name and title, a professionally designed corporate brochure and website.
Once you decide to be a syndicator, you are no longer just a real estate investor; you are also in the marketing business.
We get potential clients who reach out to us every week who want to start a fund. While we could simply take their money and set them up with fund offering documents, we actually talk a lot of people out of doing a fund. Why? Because they don’t have the necessary...